Daily Market Updates: Malaysia still deep in 1MDB red as Najib heads home

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Malaysia still deep in 1MDB red as Najib heads home

Reported · Written up by our desk · North America

Malaysia will still lose tens of billions of ringgit to the 1MDB scandal even after further overseas asset recoveries, its second finance minister said on Wednesday, as disgraced former prime minister Najib Razak prepares to move to house arrest. Najib has been imprisoned since 2022 following his conviction for corruption and money laundering tied to SRC International, a former subsidiary of 1Malaysia Development Berhad (1MDB). The sovereign wealth fund was co-founded by Najib in 2009 during his...

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SCMP EconomyMalaysia still deep in 1MDB red as Najib heads home

Global Markets

Malaysia still deep in 1MDB red as Najib heads home

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